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Chinese telecom giant ZTE said its major operations had "ceased" following last month's US ban on American sales of critical technology to the company.
[...] The Shenzhen, China-based company has been spending an estimated 80 million to 100 million yuan in daily operational expenses, while most of its 75,000 employees sit idle, sources told the news outlet. ZTE had been working to get the denial order overturned and had pegged its hopes on broader bilateral trade talks between the US and China. Earlier this month, President Donald Trump sent a surprising tweet on ZTE that called for the Commerce Department to find "a way to get back into business, fast."
However, the House Appropriations Committee unanimously approved an amendment to a bill that would uphold sanctions against the company, delivering a sharp rebuke to Trump.
(Score: 2) by RamiK on Thursday May 24 2018, @09:49AM
Yeah they've been doing that since the 80s when they first officially opened up to foreign investments. Before that they've been trading labor for machines (with Italy since at least the 60s) and reversed the equipment. When they've reached a certain degree of competitiveness the US was forced to roll over and thus the WTO and TRIPS came along to incentivize a normal technology transfer scheme. Though since the US was at such a disadvantageous negotiation position*, they just wrote the regulations Congress was willing to sign while enforcing what China was already doing. More on the specifics here: https://soylentnews.org/comments.pl?noupdate=1&sid=24704&page=1&cid=658245#commentwrap [soylentnews.org]
Anyhow, the dynamics between Congress, State department and the President are interfering with the negotiations to the point things might actually be headed towards less "look the other way while China forces 10 years max licensing" and more towards the reversing like you said. The real worry is that they might choose to drop off the WTO when they finally accept all those green dollars aren't worth the paper they're printed on if they can't buy them the tech they want and let them trade freely (without US imposed sanctions). Well, I doubt that will happen over just ZTE and Iran... But this isn't just ZTE and Iran now is it?
*The Chinese really didn't need the WTO. They had insane GDP growth and were reversing our tech well enough without us helping them. The reason they ended up signing it is because their upper classes were stuck with tons of USD and no where to spend it.
compiling...